Barrick Gold Corp (NYSE:GOLD) Receives $21.60 Consensus Price Target from Analysts

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) has been assigned an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $21.60.

A number of analysts have weighed in on the company. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. BMO Capital Markets lowered their target price on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th.

Barrick Gold Stock Up 0.8 %

Shares of NYSE:GOLD opened at $17.44 on Wednesday. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $18.95. The business has a 50 day simple moving average of $16.86 and a two-hundred day simple moving average of $16.48. The firm has a market capitalization of $30.62 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 0.49 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. Barrick Gold’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 earnings per share. On average, equities analysts predict that Barrick Gold will post 1.08 EPS for the current year.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.29%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, May 31st. Barrick Gold’s dividend payout ratio is presently 48.78%.

Institutional Investors Weigh In On Barrick Gold

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in Barrick Gold by 58.4% in the 4th quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock valued at $1,821,963,000 after buying an additional 37,128,653 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in Barrick Gold by 31.6% in the 1st quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock valued at $978,766,000 after buying an additional 14,138,639 shares in the last quarter. Van ECK Associates Corp lifted its stake in Barrick Gold by 9.7% in the 4th quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock valued at $1,464,070,000 after buying an additional 7,150,142 shares in the last quarter. Capital World Investors lifted its stake in Barrick Gold by 16.4% in the 4th quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock valued at $821,790,000 after buying an additional 6,417,244 shares in the last quarter. Finally, Ruffer LLP lifted its stake in Barrick Gold by 198.3% in the 4th quarter. Ruffer LLP now owns 9,606,218 shares of the gold and copper producer’s stock valued at $173,727,000 after buying an additional 6,385,566 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other institutional investors.

About Barrick Gold

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.